Why is indifference curve convex to origin? * Due to monotonic preferences Due to continuous decline of marginal rate of substitution Due to law of diminishing marginal utility Due to law of returns
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An indifference curve represents a set of combinations of two goods that provide the same level of utility or satisfaction to a consumer. Show more…
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'Indifference curves are convex with respect to the origin: Thus they are steeper on the [Select ] and flatter on the Select ] due to diminishing marginal returns, which means that the [Select ] unit of a good consumed provides Select ] utility than additional goods, and this causes the change in slope:'
Akash M.
Why are indifference curves convex to the point of origin? What principle is involved in such convexity?
'An indifference curve is convex to the origin'. Comment.
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